‘GREAT DAY’

Pfizer Says Its COVID-19 Vaccine Is More Than 90 Percent Effective and Has Displayed No Side Effects

No serious safety concerns have been observed during tests on 43,500 people in six countries, the company said. Dow Futures jump 1200+ on the news.

The drug maker Pfizer announced Monday that its coronavirus vaccine appears to be able to prevent more than 90 percent of people from getting COVID-19—a major development that the company has described as a “great day for science and humanity.” Pfizer, which developed the vaccine with the German drugmaker BioNTech, said its preliminary analysis shows that its vaccine is more than 90 percent effective in preventing the disease, and no serious safety concerns have been observed during tests on 43,500 people in six countries. According to The New York Times, Pfizer now plans to ask the Food and Drug Administration for emergency authorization and said it will have manufactured enough doses to immunize 15 to 20 million people by the end of the year. The Times notes the company “released only sparse details” from the trial and that long-term safety information was still to be collected.

The Dow Jones Industrial Average’s futures index shot up 1500 points on the early morning news.